Missus is fed up with Audi 2005 convertible 1.8T

Its a lovely car, but to be honest, costs a fortune in upkeep, repairs and MPG is about 32.

So time to bite the bullet and were looking at used Honda Civics and Jap cars hoping reliability will be better.

The Audi still has about £4,500 left to pay on the personal loan, list price is about 5 grand. .

A Civic we want is about 11 grand

Will a dealer pay 4 grand ish' cash to us so we can then pay that loan off enabling us to then take finance on a civic?

excuse my ignorance, I dont know too much about this as never really had to do this before. but dont know how dealers go about these things.. Thanks all

Yeah this will be fine. Just explain to the dealer the situation that you are in and they will give you the cash to settle the loan you have on the Audi and finance the civic. It's pretty common practice. (I work in a car dealership btw)

If it's an unsecured personal loan, the car is yours and you can do wantever you want. As long as you pay back the bank in the manner you signed up to, you can dispose of the car however you like

As sdenny says, if it's an unsecured personal loan, you can do what you like with the car, because it's your property. If the car was on HP or contract hire ("PCP" is a form of contract hire) that would be a different matter.

If this is a personal loan, rather than HP then simply part exchange the car and get finance for the difference between the P/ex figure and cost of the other car. You'll end up with two loans, but one will finish before the other.

If you've got a good rate phone the bank up and extend the loan. If not you can take out another loan to pay off the old one and finance the car.

I've got a loan on my car too and I gues you'd maybe like to switch from the personal loan to the finance in one go. I've never tried this and I can't image a dealer handing you cash to pay it off but the might offer to settle the outstanding loan on your behalf as part of the deal. You'll need to speak with the dealer and see what they can do.

Their are plenty advertised for sale with 'asking prices' from £4500 - £6500.

It would be interesting to know how many get sold at this time of the year.

http://www.autotrader.co.uk

? Have you tried any dealers to see what sort of money you will get offered on your car?

It seems to me that if you have done the repairs its better to keep.

Better the devil you know & own, rather than chopping in and starting all over again!

Or cut your losses and run, but you need a buyer before you can do that.

Its going to be a Private Sale, or to a Trader,

or How much is a seller of a Civic going to offer against a £11,000 car.??

george

Never trade a car in when you are still paying off a car. I was giving this little bit of info from a car sales man who I will not name. To cut a long story short you will still be paying the original loan and paying two lots of intrest added into the new loan. I know there is more to it than what I said. But the bottom line is don't do it.